Standard&Poor's Ratings Services' ratings on Sabre Holdings Corp. and major operating subsidiary Sabre Inc. remain on CreditWatch, where they were placed with negative implications on Nov. 10, 2008. The negative CreditWatch status reflects concerns regarding the effect of reduced travel demand caused by the weaker global economy on the company's financial profile. The reduction in travel will likely delay or prevent the improvement we had anticipated in Sabre's financial profile after its March 30, 2007, leveraged acquisition. Southlake, Texas-based Sabre is a leading provider of electronic travel distribution services. On March 30, 2007, Silver Lake Partners and TPG acquired Sabre for approximately $5.4 billion, including the assumption of approximately $900 million of debt. The acquisition was financed through
